Clover Health reported strong second-quarter results, with Medicare Advantage membership rising 48% year-over-year to 157,000 and revenue growing 56% to $743 million. The company generated $41 million in adjusted EBITDA and $28 million in GAAP net income, ending the quarter with $443 million in cash and no debt. The health insurer raised its full-year 2026 outlook for membership, revenue, gross profit, adjusted EBITDA and GAAP net income. Management expects positive adjusted EBITDA in the third quarter but anticipates a seasonal loss in Q4. Consolidated gross profit reached $153 million, up 54% from last year. All members are now enrolled in plans rated 4.5 stars for the 2027 payment year, though the Centers for Medicare & Medicaid Services plans to appeal the related court decision.

Clover Health reported second-quarter revenue of $743.2 million, beating analyst estimates of $728.2 million and marking 55.6% year-on-year growth. The health insurance company's shares rose 10.3% following the announcement. The company posted GAAP earnings of $0.05 per share, surpassing consensus estimates of $0.03. Adjusted EBITDA reached $40.92 million, exceeding expectations of $30.38 million by 34.7%. Clover Health raised its full-year revenue guidance to $2.96 billion at the midpoint, up from $2.87 billion previously. Full-year EBITDA guidance of $77.5 million also came in above analyst estimates of $58.44 million. The company's customer base grew to 157,309, up from 155,773 in the previous quarter. Operating margin improved to 3.8%, compared with negative 2.2% in the same period last year.

Clover Health swung to $27 million GAAP net income in Q1 2026, compared with a $1.27 million loss the previous year. Revenue surged 62% year over year to $749 million, beating estimates by nearly 5%. The Nashville-based Medicare Advantage insurer saw membership jump 52% to 154,607. Operating cash flow reached $108 million, up 762% year over year. However, medical claims grew faster than premiums, with unpaid claims climbing to $260 million from $153 million at year-end 2025. The insurance benefit expense ratio rose 40 basis points to 86.5%. CEO Andrew Toy reaffirmed full-year 2026 guidance targeting revenue of $2.81 billion to $2.92 billion and the company's first full year of GAAP profitability. Shares trade at 82 times forward earnings following a 77.5% year-to-date gain.